UAE approves $182m housing loans

ABU DHABI, August 31, 2017

The UAE government is offering housing loans worth Dh670 million ($182 million) to 1,080 beneficiaries in the northern emirate of Umm Al Qaiwain under the Sheikh Zayed Housing Programme, said a report.

The loan was approved by the board of directors of the Sheikh Zayed Housing Programme at a key meeting headed by Dr Abdullah bin Mohammed Belhaif Al Nuaimi, Minister of Infrastructure Development and board chairman, reported state news agency Wam.

Addressing the board members, Dr Al Nuaimi said the housing aid was being approved under the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan in line with the plans to celebrate 2018 as the "Year of Zayed," as the Programme is part of the everlasting legacy of the late UAE founder Sheikh Zayed bin Sultan Al Nahyan, who supported citizens, cared about their living conditions, and provided the elements of a dignified life and welfare to his children, the UAE’s citizens.

He pointed out that Sheikh Zayed had placed significant importance on the housing of UAE citizens.

"Therefore, the Programme aims to achieve stability in the residential housing sector for local citizens and make them happy, and the wise leadership has continued Sheikh Zayed’s vision of supporting and developing the housing sector, by providing housing support to citizens and constructing residential neighbourhoods with complete facilities," he added.